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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (20834)	7/22/1999 6:24:00 PM
From: American Spirit	Read Replies (1) \| Respond to of 99985

Studying the charts for LUCENT (as an growth leader example) and PSFT (as a recovery value dog example) I see this correction over or close to it. Recently LU has corrected 15% from its tops then bounced back quickly. PSFT lagged for a long time near its bottom of around 13, just crested up to 18 and is now back at 13 and change. I now see both stocks as buys. -- I know some have slight inflation worries or Yen worries, but earnings have been great and the world economy is still doing just fine. -- Any further dips I see as great buying opportunities. Basically we just moved up too fast, especially leaders like MSFT, LU and others, and we needed to base. Some climactic selling today makes many solds look oversold to me. I see a Monday rally for sure. Maybe even starting tomorrow. Certainly anyone who wanted out of this market will be out by tomorrow's close. Weak hands and trend-following traders. In other words we'll soon be in for a nice reversal. Today and tomorrow the time to buy IMHO.